GBP/USD is approaching the psychological 1.3000 level, a key battleground for bulls and bears. The pair has been trading within a rising channel, but recent price action suggests momentum could be shifting.
🔹 Trend & Structure: GBP/USD remains in a broader uptrend but is struggling to maintain bullish momentum above 1.3000. A confirmed break could signal continuation, while rejection may trigger a retracement toward 1.2800-1.2750.
🔹 Technical Outlook:
Support Levels: 1.2850, 1.2750
Resistance Levels: 1.3050, 1.3150
Indicators: RSI hovers near 65, signaling slight overextension; MACD shows bullish momentum but weakening.
🔹 Fundamental Factors:
BOE policy expectations vs. Fed’s stance on rate cuts.
US & UK economic data—watch CPI and employment figures.
If GBP/USD clears and holds above 1.3000, it could open doors for a rally toward 1.3150. But if sellers defend this level, we might see a pullback toward 1.2850-1.2750 before the next move.
Will 1.3000 hold, or is a reversal on the horizon? Drop your predictions below! 📉📈 #GBPUSD #ForexTrading #MarketAnalysis
🔹 Trend & Structure: GBP/USD remains in a broader uptrend but is struggling to maintain bullish momentum above 1.3000. A confirmed break could signal continuation, while rejection may trigger a retracement toward 1.2800-1.2750.
🔹 Technical Outlook:
Support Levels: 1.2850, 1.2750
Resistance Levels: 1.3050, 1.3150
Indicators: RSI hovers near 65, signaling slight overextension; MACD shows bullish momentum but weakening.
🔹 Fundamental Factors:
BOE policy expectations vs. Fed’s stance on rate cuts.
US & UK economic data—watch CPI and employment figures.
If GBP/USD clears and holds above 1.3000, it could open doors for a rally toward 1.3150. But if sellers defend this level, we might see a pullback toward 1.2850-1.2750 before the next move.
Will 1.3000 hold, or is a reversal on the horizon? Drop your predictions below! 📉📈 #GBPUSD #ForexTrading #MarketAnalysis
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.